REPORT FOR ANALYTICAL CHEMISTS making some partial down payment. On expiration of the 5-year contract, the lessee m a y (1) purchase the instrument at 10% of the original sales price; (2) continue to lease a t a yearly cost of 7% of the original sales price: (3) return the equipment a t RCA's .expense; or (4) lease new equipment. A specific example is a lease for a basic x-ray diffraction unit with a list price of $16,000. The monthly
charge for the 5-year term of the lease is $21 per $1000 of sales price or $21 X 16 = $336. At the end of the 5-year lease the customer can: (1) purchase a t 1 0 % of original lease sales price = $1600; (2) continue at yearly amount of 7% of original sales price = $1120; or (3) return the equipment to R C A = no charge. For a lessee to purchase this equipment at the end of two years,
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N O R T O N COMPANY,
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NORTON REFRACTORIES Engineered...
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ANALYTICAL CHEMISTRY
the cost would be $16,000 minus $5376 (1.4% per month for 24 mouths) = $10,624. In the case of an electron microscope listed a t $27,900, the monthly leasing cost for five years would be $585.90. Purchase a t expiration of lease would be $2790. Renewal of lease would be $1953 annually; and return of the equipment to R C A at the end of the five years would cost the customer nothing.
Trading In Used Equipment Some instrument manufacturers have approached leasing plans cautiously because they have not been equipped to handle used instruments which are returned at the expiration of a lease. Even without leases, manufacturers have faced the problem of trade-in equipment. A prospective customer, for example, might agree to buy a new instrument only if he could trade in an older model. This becomes even more complicated when the customer wishes to trade in an instrument made by a different manufacturer t h a n the one making the instrument he wishes to purchase. Most of these situations have been handled by the salesman and the home office on an individual basis. The analytical instrument industry is progressing rapidly and technological obsolescence is a factor. The market for used equipment is, therefore, somewhat limited for many types of instruments. One instrument company representative told the editors t h a t prior to initiating its formal leasing plan, it did trade in equipment usually in order to effect sale of new equipment. Each case, however, was handled on an individual basis. Once the used equipment was received, the problem of w h a t to do with it arose. The company solved the problem in p a r t by reconditioning some instruments and supplying salesmen with a list of such equipment. The salesmen sold this equipment to buyers who could not afford new equipment. I n other cases, they gave the equipment to colleges, universities, and the like. This can, however, lead to problems. In one case the college expected t h a t the manufacturer
